Board of Uno Minda at approves acquisition of 49.90% stake in UnoMinda EV Systems
At meeting held on 14 February 2025
The Board of Uno Minda at its meeting held on 14 February 2025 has approved the Acquisition of 49.90% additional equity stake of its subsidiary UnoMinda EV Systems (UMEVS) from FRIWO Geratebau GmbH (FRIWO GmbH).Along with additional equity stake, the Company through its subsidiaries namely UMEVS and Minda Industries Vietnam Company will also acquire the Intellectual Property Rights, the know-how and R&D Team relating to the e-Drives Business technologies including the required control hardware and service software, from FRIWO Group Entities located in Germany and Vietnam. The e-drive technologies comprise of electric powertrain solutions for application in electric automotive two and three-wheeler vehicles. The purchase consideration for 49.9% additional Equity stake in UMEVS, thee-drive technologies and assets as mentioned above is approximately Rs 195 crore.
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